0556 GMT - Saudi Arabia's petrochemical stocks are likely to come under selling pressure after a two firms reported quarterly earnings that trailed analysts' forecast.
Saudi Arabian Fertilizer Co (Safco) said its second-quarter net profit fell 11.6 percent from a year ago, missing analysts' forecasts.
Yanbu National Petrochemical Co (Yansab) posted a second-quarter net profit growth of 3.2 percent on an annual basis, also missing average estimate from nine analysts of 9 percent.
Yansab's earnings could also affect shares in Saudi Basic Industries Corp (SABIC), parent firm.
Upbeat sentiment in oil prices however, may mitigate the impact.
Brent futures rose towards $109 a barrel on Monday as demand growth worries ebbed after data from China showed the world's second-biggest economy expanded in line with expectations.
In Oman, marine services firm Renaissance Services has sold its oilfield maintenance services unit Topaz Oil and Gas, based in the United Arab Emirates, to Interserve for $46 million, a bourse filing said on Sunday.
Shares in Renaissance may gain as the company sells its unit, which in 2012 was hit by a $2.9 million fraud scandal, and forced to pull a London listing amid valuation concerns and regional unrest.
Heavyweight lender Bank Muscat is likely to rise after it's second-quarter net profit of 38.1 million Omani rials ($98.95 million), by Reuters calculation, beat estimates. (Reporting by Nadia Saleem; Editing by)
Source: http://news.yahoo.com/stocks-news-mideast-saudi-petchems-may-decline-earnings-060546311.html
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